SOURCE: Fuego Entertainment, Inc.

August 07, 2008 08:00 ET

Fuego Entertainment Acquires Digital Distribution Rights to More Than One Million Music Tracks From IODA

MIAMI, FL--(Marketwire - August 7, 2008) - Fuego Entertainment, Inc. (OTCBB: FUGO) today announced that in an agreement with IODA, the global leader in digital distribution, marketing, and technology solutions for the independent music and film industry, the Company will be adding more than one million music tracks and over two thousand video and film titles to our music and video retail store.

The addition of more than one million music tracks and over two thousand video and film titles from IODA is an important step in Fuego Entertainment's commitment to becoming one of the largest music and video digital retail stores. Through Fuego's new digital retail music store,, the Company will be providing higher quality digital audio than any other major digital retailer. As IODA continues to grow its music, film and video catalogs, Fuego will continue to receive new releases.

"We are exited about our new partnership with IODA. Without a doubt this first major alliance will spearhead our efforts to become one of the largest digital retail stores in the world. We expect to announce similar partnerships in the near future," stated Hugo Cancio, President & CEO of Fuego Entertainment.

Global digital music sales totaled an estimated US$3 billion in 2007, a roughly 40% increase on 2006 (US$2.1 billion). Single track downloads, the most popular digital music format, grew by 53% to 1.7 billion (including those on digital albums). Digital sales now account for an estimated 15% of the global music market, up from 11% in 2006 and zero in 2003. In the world's biggest digital music market, the US, online and mobile sales now account for 30% of all revenues.

IODA, the Independent Online Distribution Alliance, is the industry-leading digital distribution company for the global independent music community. IODA provides comprehensive services to record labels, physical distributors, and artists. Founded in 2003, IODA represents a rapidly expanding roster of over a million tracks from thousands of independent labels around the globe. IODA also distributes independent film and video content.

Fuego Entertainment, Inc. is engaged in the production, acquisition, marketing, sales, and distribution of entertainment products. For more information, please visit Fuego Entertainment at

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.Those statements include statements regarding the intent, belief or current expectations of Fuego Entertainment, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

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